Apply economic concepts to real world applications

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Apply economic concepts to real world applications
This assignment is designed to assess your ability to apply economic concepts to real world applications. It addresses the learning objectives from Weeks 6 &7.
Questions 1 and 2 relate to content and skills covered in Week 6 of the Weekly Study Program, Chapter 31 of Ganset al. (2012)
Question 3 relates to content and skills covered in Week 7 of the Weekly Study Program, Chapter 32 of Ganset al. (2012). Refer here to the comments given for Week 7 for assistance in answering this question.